Mitt Romney stayed at Bain 3 years longer than he stated

Originally posted by charles1952
But on Romney and the SEC filings, I am persuaded by the Washington Post article (and the articles it links to) that the was no criminality in
Romney's statements about Bain. It's a pretty thorough article, if you can find the time, you might want to read it.

With respect,
Charles1952

No worries on the RP thing.

I did in fact read the entirety of the WP article (from this morning) which they followed with a less forgiving article on the matter this afternoon
which I qouted at the top of this page...but since then they have moved it to the "Paid Subscriber" portion of thier site.

The case made by the firts WP article that the SEC doesn't require the "Owner" to be a "Decision Maker" is frankley ludicrous. The "Owner" who signed
those docs...in this case Romney...is by the very nature of the signature and authority required to have knowledge and authority over the
company...

Karmel, the former SEC commissioner, said the contradictory statements could have legal implications in some instances.

“If someone invested with Bain Capital because they believed Mitt Romney was a great fund manager, and it turns out he wasn’t really doing
anything, that could be considered a misrepresentation to the investor,’’ she said.

Romney eventually negotiated a retirement agreement with Bain Capital in 2002. The agreement was made retroactive to February 1999.

The Boston Globe reported Thursday that a Massachusetts financial disclosure form Romney filed in 2003 stated he still owned 100 percent of Bain
Capital in 2002. Romney was elected to one term as Massachusetts governor in 2002.

Campaign spokeswoman Andrea Saul insisted Romney left Bain in February 1999 and "had no input on investments or management of companies after
that point."

The campaign also issued a statement from Bain saying that "due to the sudden nature of Mr. Romney's departure, he remained the sole stockholder for
a time while formal ownership was being documented and transferred to the group of partners who took over management of the firm in 1999. Accordingly,
Mr. Romney was reported in various capacities on SEC filings during this period."

This retroactive the retirement agreement is the source of the confusion. IMHO.

With all the confusion about this, CNN has an article that seems to favor Romney's story.

At least about some of it.

for what it's worth;

FORTUNE -- Mitt Romney did not manage Bain Capital's investments after leaving to run the Salt Lake City Olympic Games, according to confidential
firm documents obtained by Fortune.

The timing of Romney's departure from Bain became a lightning rod earlier today, when The Boston Globe published an article suggesting that Romney
remained actively involved with the firm longer than he and his campaign have claimed. The sourcing is largely SEC documents that list Romney as Bain
Capital's CEO and sole shareholder through 2002 -- or three years after Romney officially left to run the Salt Lake City Olympic Games.

These claims are very similar to ones made last week by David Corn in Mother Jones, which we disputed at the time.

Now Fortune has obtained new evidence that supports Romney's version of events.....[continues]

and this article has more.
along with pertinent links to the older stories.

.....................Sure, Romney's name appeared on Bain's SEC filings. But he didn't make Bain's decisions. He only benefited financially
from them. Now you see why the Obama campaign thinks it can drag this out over weeks and months. Explaining why Romney himself wasn't really CEO
during his leave of absence (when he was trying to save the American Olympics, for Pete's sake!) involves explaining some complicated corporation-fu.
In the meantime, the Obama campaign can use "outsource" in every other graf of its press releases, and ignore the Fact-Check squads. When is a CEO Not a CEO?

Keep in mind that the "Leave of Absence" agreement is the question (or the "problem, depending on the point of view).
We need to find That document.

F&S for the OP, yet another expose' of the Romney lying machine. I think his problems with Bain Capital are far from being over, you might even say
they've only just begun.

There's another new article out now regarding the truth, or lack thereof, about his tenure with Bain and the truth behind his blind trust funds
entitled, "Where The Money Lives," that can be found here;

As Fortune put it, “the contemporaneous Bain documents show that Romney was indeed telling the truth about no longer having operational input
at Bain -- which, one should note, is different from no longer having legal or financial ties to the firm.”

Why do you people keep dragging the dead horse out to beat? Romney had no part of Bain after '99, and all the evidence agrees upon that. There is a
book written by Boston Globe writers (the same Globe doing the OP article) which talks about the crisis that ensued when Romney quite in '99. You
may separate from your wife and leave the house you both shared years before the divorce is finalized and your name is legally off the house. That
doesn't mean you still live there.

Wow looks like fact check.org doesn't know how to do their own fact checks. I think it was the liberal media who came up with that date right? Sooooo
now you have them finding out that they got simple maths wrong and they are kicking themselves trying to spin it around to being something bad.

Hey guess what idiots, do u have on record Romney saying when he left? And have you ever heard of Bill Gates? He's still chairman of Microsoft even
tho he doesn't exactly spend every waking moment there!

The Obama idiots have officially hit an all time low proving once again they know nothing about business or the
economy!!!!!!

We received your request late this afternoon for a correction regarding this morning’s Globe story. Having carefully reviewed that request, we see
no basis for publishing a correction. The Globe story was entirely accurate.

The Globe story was based on government documents filed by Bain Capital itself. Those described Governor Romney as remaining at the helm of Bain
Capital as its “sole stockholder, chairman of the board, chief executive officer, and president” until 2002. The story also cited state financial
disclosure forms filed by Romney that showed he earned income as a Bain “executive” in 2001 and 2002, separate from investment earnings.

Regardless as to whether it's true or not it puts Romney in a bad light. Voters will be unsure and will start questioning the viability of Romney's
candidacy. My next door neighbor is a Republican and is now unsure of who to vote for. He is not liking what he's hearing about Romney (swiss bank
account, tax returns, Bain, etc...)

And this puts Ron Paul in a better light. Romney has not secured the nomination yet.

Well Gee.. It looks like someone in Boston may have jumped the gun and didn't do their homework before posting something damaging about a candidate
and it turns out it may have been fabricated. Wouldnt be the first time the Dems made up stories to try and discredit a candidate. Got forbid we try
to run a campaign talking about issues and how we are going to fix the economy. Lets just smear the other guy. No wonder have of this site thinks it
is the lesser of two evils. No one wants to run on issues any longer.

But even as Mr. Obama’s campaign continued to trumpet The Globe’s disclosures, other reports emerged on Thursday to support the Romney
campaign’s assertion that he did not have any operational control over Bain after 1999.

A statement from Charlyn Lusk, a spokeswoman for Bain Capital, reiterated Mr. Romney’s position that he “has had absolutely no involvement with
the management or investment activities of the firm or with any of its portfolio companies since the day of his departure” in 1999.

Ms. Lusk said that “due to the sudden nature of Mr. Romney’s departure, he remained the sole stockholder for a time while formal ownership was
being documented and transferred to the group of partners who took over management of the firm in 1999.”

“Accordingly,” she added, “Mr. Romney was reported in various capacities on S.E.C. filings during this period.”

Um yeah, I understand that. I am in finance and have an MBA fron NYU Stern. When you put your name on an SEC filing stating you are CEO of a company
and still receive money from business deals you are entirely in a different realm. Romney got caught lying on the national stage. the man has lied
since he began runing for President in 2000 and office in 1994. Romney provided John McCain 23 years of tax returns and McCain chose Sarah
Palin............

Up until three months ago we were creating 200+ jobs a month for the last couple years. 4 Million jobs have been created under Obama even
though all his jobs bills have been blocked by congress.

Thats funny because he had enough control of congress to push Obamacare through and he is signing executive orders left and right to give himself
power. Stop using the congress is blocking him thing. And 200+ jobs per month? Thats not even scratching the surface of what we need.

But please show me what bills congress blocked that would have saved us all?

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